Glass House Brands (NYSE:GLAS) Rating Lowered to “Strong Sell” at Wall Street Zen

by · The Cerbat Gem

Glass House Brands (NYSE:GLAS – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other analysts have also recently commented on GLAS. Canaccord Genuity Group set a $15.00 price objective on Glass House Brands in a research report on Friday, August 14th. Zacks Research downgraded Glass House Brands from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. Lake Street Capital decreased their target price on Glass House Brands to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, October 20th. Finally, Weiss Ratings cut shares of Glass House Brands from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 11th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.00.

Read Our Latest Stock Report on GLAS

Glass House Brands Trading Down 0.7%

Shares of GLAS stock opened at $2.12 on Friday. The stock has a market capitalization of $197.09 million and a P/E ratio of -2.80. The business’s 50 day simple moving average is $6.89. The company has a quick ratio of 0.70, a current ratio of 1.33 and a debt-to-equity ratio of 0.77. Glass House Brands has a 12-month low of $1.67 and a 12-month high of $13.93.

Insider Buying and Selling at Glass House Brands

In related news, SVP William Tu sold 3,818 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $8.03, for a total transaction of $30,658.54. Following the completion of the transaction, the senior vice president owned 3,783 shares in the company, valued at $30,377.49. This represents a 50.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

About Glass House Brands

(Get Free Report)

Glass House Brands Inc is a cannabis company focused on the cultivation, manufacturing, distribution and sale of cannabis products in California. The company operates one of the largest cannabis greenhouse facilities in the United States and supplies products through wholesale and retail channels.

Its product portfolio includes cannabis flower, pre-rolls, vapes, concentrates and edibles sold under brands such as Glass House Farms and PLUS. Glass House Brands also operates retail dispensaries in California, including locations associated with its The Pottery retail brand.

The company traces its origins to the Glass House Group, which was founded in California and became publicly traded following a business combination with Mercer Park Acquisition Corp.

See Also